You’ve probably noticed it around you.
The older dentist down the street still runs a packed schedule. Your mentor from residency is still working three days a week.
And maybe you’re wondering:
Am I on track to retire when I want to?
What age do most dentists retire?
Or do dentists just… never retire?
It’s a fair question—and one we get a lot at Core Advisors.
So let’s look at what the data actually says, and then we’ll dig into what really drives dental retirement age, especially the financial side.
So, What’s the Average Retirement Age for Dentists?
According to the American Dental Association’s Health Policy Institute, the average retirement age for dentists in the U.S. has steadily climbed over the last 20 years. Back in 2001, it was just under 65. But by 2023, it hit nearly 69, and a growing number of dentists continue working well into their 70s.
Only about one in five dentists retires before age 65.
And sure, part of that is about loving the work. Dentistry can be rewarding and flexible. But if we’re being honest, a lot of it comes down to the numbers.
Why Do Dentists Retire So Late?
Let’s unpack it. In our work with dental clients, we’ve seen three big drivers behind delayed retirement, and they’re all connected to financial planning.
1. Debt Slows Down Wealth-Building
Dental school debt often starts in the $300,000 to $500,000 range. That slows down savings, especially early in your career when compounding would have the most impact. Then add in practice acquisition costs, real estate, and family expenses, and it’s easy to see why many dentists don’t hit their retirement savings stride until their 40s or even 50s.
2. Practice Ownership Adds Responsibility
Owning a dental practice can be a path to great income, but it also comes with overhead, staff management, and daily decision-making. Many dentists feel tied to the business until they’ve either sold it or structured a gradual exit. And many don’t fully realize how long it takes to transition out of ownership until it’s crunch time.
3. No Forced Retirement Plan
Unlike corporate jobs with built-in pensions or target retirement programs, dentists are solo pilots. There’s no default track, no hard stop. So unless you’ve built a clear plan, the path just keeps going… sometimes by design, sometimes by drift.
How Much Do You Really Need to Retire?
Let’s get specific. The big question we hear is: how do I know if I’m close to being able to retire?
Here’s a simplified benchmark we use with dental clients:
- You should aim to replace 70–85% of your current annual income in retirement, depending on lifestyle.
- That means if you currently take home $300,000, your retirement income should be around $210,000 to $255,000 per year.
Now let’s reverse-engineer that.
Assuming a safe withdrawal rate of 4%, which is standard in retirement planning, here’s what that looks like:
- To generate $210,000/year, you’d need about $5.25 million saved.
- To generate $255,000/year, you’d need about $6.4 million.
This doesn’t include the value of your practice, but it’s important to note that your practice often becomes a liquidity event, not a reliable income stream post-retirement.
If your practice is worth $1 million and you sell it near retirement, great. But that only helps if it’s factored into your broader strategy.
We also build in buffers for health care, long-term care, and travel. And if you plan to retire early or want to maintain an above-average lifestyle, those numbers go up.
How Do You Know If You’re On Track?
That’s where planning comes in. At Core Advisors, we work with dentists across every stage—early career, mid-career, pre-retirement, and post-sale—to help them answer the “When can I retire?” question with real clarity.
And this is exactly why we’re not your typical accounting firm.
Yes, we handle your practice taxes, books, and cash flow. But we’re also Certified Financial Planners®, not just CPAs. That means we look at the full picture: your business, your personal investments, your debt, your exit plan, and your long-term goals. All of it.
Because retiring on time (and comfortably) doesn’t happen just because your practice is profitable. It happens when your business finances and personal finances are working together toward a shared outcome.
When we work with clients, we look at:
- What you’ve saved and invested so far
- The projected value of your practice, and how to sell it in a tax-smart way
- What your lifestyle will actually cost in retirement
- How your investment portfolio needs to perform to support that lifestyle
- Whether your current trajectory is realistic or needs adjusting
If you’re not sure whether you’re close to retiring – or not even close – we’ll help you find out. And we’ll build a plan to get you where you want to go.
Final Thoughts
The average dentist retires around age 69. But averages don’t matter if your goals are different.
What matters is whether you’ve saved enough, planned thoroughly, and feel confident that your money can support the life you want next.
If you want a second set of eyes on your numbers, or you’re just starting to map this out, let’s talk.
Retirement doesn’t have to be a mystery. It just needs a plan.
Simply head over to our Getting Started page to book your first call.
We’re always here to help!
Until next time.
